The chip crisis is at Renault lead to a considerable loss of income, which is significantly higher than originally expected. In September the French carmaker had estimated that 220,000 fewer vehicles would be produced this year due to the lack of parts, Renault now expects that 500,000 fewer vehicles will roll off the assembly line. The group announced on Friday in Boulogne-Billancourt near Paris.
In the third quarter alone, the carmaker’s production loss was around 170,000 vehicles, the company said. Meanwhile, the group is not lacking in orders, the order book was as full at the end of September as it had not been for 15 years. Before the Corona crisis, annual sales were 3.75 million cars and commercial vehicles.
Renault sold 599,027 vehicles across all group brands in the months from July to September, 22.3 percent fewer than in the same period of the previous year due to problems with missing parts. The slump in sales was 13.4 percent or 9 billion euros, partly because prices rose. Under the new boss Luca de Meo, Renault has decided to focus less on quantity and instead focus on returns. The group also maintains the operating margin forecast for the year – it should be in the order of magnitude of the first six months, when it was 2.8 percent.
Worldwide probably eleven million fewer cars, 180 billion euros in loss of income
The chip crisis is causing problems for the entire industry. The forecast house IHS assumes around eleven million cars worldwide that will not be able to roll off the assembly line this year. Experts from the management consultancy Boston Consulting and PwC estimate the production loss across all manufacturers at ten to eleven million in the current year. The consulting firm Alix Partners, in turn, assumed at the end of September that the Lack of chips the global car industry in the current year revenue of at least 189 billion euros should cost. In May it was still estimated at $ 110 billion.